Oppenheimer Comments on ACADIA Pharmaceuticals Inc.’s Q3 2019 Earnings (NASDAQ:ACAD)

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) – Equities research analysts at Oppenheimer issued their Q3 2019 earnings per share estimates for shares of ACADIA Pharmaceuticals in a report released on Wednesday, October 23rd. Oppenheimer analyst J. Olson anticipates that the biopharmaceutical company will earn ($0.38) per share for the quarter. Oppenheimer has a “Market Perform” rating and a $44.00 price target on the stock. Oppenheimer also issued estimates for ACADIA Pharmaceuticals’ Q4 2019 earnings at ($0.37) EPS, FY2019 earnings at ($1.70) EPS, Q1 2020 earnings at ($0.51) EPS, Q2 2020 earnings at ($0.40) EPS, Q3 2020 earnings at ($0.37) EPS, Q4 2020 earnings at ($0.36) EPS, FY2020 earnings at ($1.64) EPS, FY2021 earnings at ($0.09) EPS, FY2022 earnings at $1.55 EPS and FY2023 earnings at $2.91 EPS.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.08. The business had revenue of $83.21 million during the quarter, compared to analyst estimates of $72.50 million. ACADIA Pharmaceuticals had a negative return on equity of 70.97% and a negative net margin of 101.45%. The firm’s revenue was up 45.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.51) EPS.

Several other equities research analysts have also issued reports on the company. Canaccord Genuity upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their price target for the company from $29.00 to $50.00 in a report on Tuesday, September 10th. Needham & Company LLC boosted their target price on ACADIA Pharmaceuticals from $34.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Leerink Swann upgraded ACADIA Pharmaceuticals from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $21.00 to $50.00 in a report on Friday, September 13th. JPMorgan Chase & Co. restated a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Tuesday, September 10th. Finally, Cowen restated a “buy” rating and issued a $66.00 target price on shares of ACADIA Pharmaceuticals in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $47.63.

Shares of ACADIA Pharmaceuticals stock opened at $42.15 on Monday. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of -21.73 and a beta of 2.81. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.85 and a quick ratio of 6.79. ACADIA Pharmaceuticals has a 52-week low of $14.01 and a 52-week high of $44.85. The stock has a 50-day simple moving average of $39.67 and a 200-day simple moving average of $29.54.

In other news, Director James M. Daly sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $37.80, for a total transaction of $1,134,000.00. Following the completion of the transaction, the director now directly owns 30,000 shares in the company, valued at $1,134,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Stephen Davis sold 2,983 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $39.65, for a total value of $118,275.95. Following the transaction, the chief executive officer now owns 5,937 shares of the company’s stock, valued at $235,402.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,942 shares of company stock valued at $3,840,880. Corporate insiders own 29.40% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of ACADIA Pharmaceuticals by 2.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 7,537,393 shares of the biopharmaceutical company’s stock worth $201,475,000 after buying an additional 179,737 shares during the last quarter. Invesco Ltd. grew its position in ACADIA Pharmaceuticals by 950.3% in the second quarter. Invesco Ltd. now owns 4,015,482 shares of the biopharmaceutical company’s stock valued at $107,334,000 after acquiring an additional 3,633,171 shares during the period. D. E. Shaw & Co. Inc. grew its position in ACADIA Pharmaceuticals by 32.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,901,850 shares of the biopharmaceutical company’s stock valued at $50,836,000 after acquiring an additional 461,869 shares during the period. Nuveen Asset Management LLC bought a new stake in ACADIA Pharmaceuticals in the second quarter valued at $42,444,000. Finally, JPMorgan Chase & Co. grew its position in ACADIA Pharmaceuticals by 45.5% in the second quarter. JPMorgan Chase & Co. now owns 1,174,763 shares of the biopharmaceutical company’s stock valued at $31,050,000 after acquiring an additional 367,547 shares during the period. Institutional investors own 94.88% of the company’s stock.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

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Earnings History and Estimates for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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